Job Description

Company

Federal Reserve Bank of RichmondWhen you join the Federal Reserve—the nation's central bank—you’ll play a key role, collaborating with a dynamic team of mission-driven professionals to strengthen and protect our economy and our communities.

Bring your passion and expertise, and we’ll provide the opportunities that will challenge you and propel your growth—along with a wide range of benefits and perks that support your health, wealth, and life. In addition to competitive compensation, we offer a comprehensive benefits package that includes tuition assistance, generous paid time off, top-notch health care benefits, child and family care leave, professional development opportunities, a 401(k) match, pension, and more. All brought together in a work environment where you can truly find balance.

About the Opportunity

The Research department seeks a Vice President (VP) and Community Affairs Officer (CAO) for Community Development. Reporting to the Group Vice President for Regional Economics, the VP/CAO provides strategic leadership and direction for the Community Development function, leading a collaborative team of professionals focused on surfacing insights, identifying challenges and opportunities affecting economic participation, and evaluating and elevating solutions that support low- and moderate-income (LMI) communities across the Fifth District, with a particular focus on small towns and rural areas.

The VP/CAO oversees two specialized teams within Community Development: one focused on capital pathways and another focused on workforce pathways. Both teams work collaboratively with researchers and analytical staff to understand the dynamics of the region, advance projects such as the national Community Development Financial Institutions (CDFI) Survey, and other initiatives that inform community development practice and policy.

A signature responsibility of this role is oversight of the Rural Investment Collaborative, a multi-year initiative that brings together stakeholders across sectors to increase the flow of investment capital to rural businesses and communities in the Fifth District.

• Lead the development and execution of community development strategy for the Bank and contribute to community development strategy at the System level
• Oversee the Community Development team engaged in developing and sustaining key community relationships, partnerships and programs with organizations focused on the LMI communities across the Fifth District, and with organizations engaged in the economic vitality of small towns and rural areas
• Lead the Rural Investment Collaborative's convening and partnership activities, bringing together diverse stakeholders to address barriers to rural investment and entrepreneurship.
• Serve as a key internal connector—ensuring that the community development perspective is integrated into research, external engagement, government relations, and communications, and is a helpful input into policy and research products and processes
• Lead and organize staff efforts to sense priority issues and emerging trends affecting LMI communities, through proactive and intentional engagement with key stakeholders; contribute to and guide synthesis of the most salient issues facing LMI communities and develop understanding of the implications of policies that are designed to address these issues
• Identify and recruit advisory council members and serve as a primary point of contact with the members for the Bank; participate in the Bank’s cross-functional advisory council and Board of Director planning
• Support team planning for Bank/President regional and community visits, and other events as required
• Actively engage in, and lead, Federal Reserve System committees and initiatives, serving on the System's CAO subcommittee, to both learn from other Reserve Banks as well as ensure that the expertise and perspectives of the Richmond Fed's district are represented
• Serve as the main point of contact with the Federal Reserve Board of Governors Division of Community and Consumer Affairs on matters related to LMI communities and the Community Reinvestment Act

Qualifications:

• At least ten years of high-level leadership experience in developing and managing community development strategies for high-profiled, multifaceted, and multi-divisional organizations
• Strong networking skills and deep relationships within the business, non-profit, public policy, and philanthropic sectors; established relationships with small town/rural-focused organizations is a plus
• Proven ability to design and lead strategic initiatives in partnership with cross-functional teams and to set strategy, vision, and goals, and to drive team accountability and results
• Strong understanding of capital pathways and workforce development ecosystems, including community development finance, small business lending, workforce training systems, and economic mobility strategies.
• Proven success in leading people, managing multidisciplinary teams, and overseeing complex projects or initiatives with multiple stakeholders and timelines.
• Strong interest in and experience developing initiatives to address challenges and opportunities in small towns and rural/small areas
• Record of success in establishing and overseeing high-impact community programs that align with organizational mission and goals with proven ability to implement innovative solutions
• Demonstrated track record of strong oral, written and presentation skills to engage broad audiences (executive, researchers, and grassroots) and achieve desired outcomes
• Ability to clearly synthesize information and articulate points of view, and the ability to engage, challenge, and influence others’ thinking to sharpen insights and inform thinking throughout an organization
• Demonstrated experience in an environment with a culture of collaboration and consensus driven decision-making
• Bachelor’s degree in public policy, economics, or a related field required; Master’s degree is preferred

Discover the Reason Why So Many People Love It Here!

When you join the Richmond Fed, not only will you find a challenging and purposeful career, you’ll also have access to a wide range of benefits and perks that support your health and wealth, including:

• Great medical benefits
• Pension and 401(k) with employer match
• Paid time off
• Tuition reimbursement
• Paid volunteer leave
• Onsite amenities that make working here fun!

Other Requirements and Considerations:

• Candidates should review the Bank’s Employee Code of Conduct to ensure compliance with conflict-of-interest rules and personal investment restrictions.
• If you need assistance or an accommodation due to a disability, please notify rich.recruit@rich.frb.org
• Sponsorship is not available for this role. Selected candidate is subject to special background check procedures.
• The hiring range of the Vice President (VP) and Community Affairs Officer (CAO) for Community Development is $222,600 - $306,130 annually.
• Salary offered will be based on the job responsibilities and the individual’s knowledge, skills, and experience as defined in the job qualifications.
• Applications are reviewed on a rolling basis.
• Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels.

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Work Shift

First (United States of America)

The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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